The European Commission allocated to Ukraine the second part of exceptional bridge financing within the framework of the mechanism for Ukraine in the amount of 1.5 billion euros.
What is known about the newly allocated tranche of the EU to Ukraine
The allocation of funds was based on a positive assessment by the European Commission of the agreed political conditions related to the reforms:
in the field of the judicial system
combating money laundering
management of public finances of the business environment and agriculture
reporting requirements to ensure transparent and efficient use of funds.
Ukraine is carrying a heavy burden on its shoulders for all of us. Today, we disburse an additional €1.5 bn under the €50 bn Ukraine Facility. This is vital to keep Ukraine's state & services running while it fights back the aggressor.
Ursula von der Lieyen
Head of the European Commission
She added that the EU will closely cooperate with the Ukrainian authorities to ensure the implementation of the "Ukraine" plan, which is expected to be quickly approved by the Council of the EU.
What is known about aid to Ukraine from the EU
At the beginning of 2024, the European Union provided large-scale financial assistance to Ukraine. At a special summit on February 1, EU leaders approved an aid package of €50 billion, which will be provided to Ukraine until 2027.
Funds will be allocated within the framework of the Ukraine Facility program, which provides Ukraine with grants and loans.
It is important to note that Ukraine must fulfil several conditions to receive financial assistance from the EU. These conditions concern carrying out reforms, fighting corruption, and strengthening democratic institutions.
On February 28, 2024, the EU Council finally approved the Ukraine Facility program.
On March 20, 2024, the head of EU diplomacy, Josep Borrell, announced that the European Commission had already paid Ukraine the first tranche of aid for €4.5 billion.
The remaining funds will be transferred to Ukraine over the next four years.
